MGM Resorts International (NYSE:MGM) Receives $51.29 Consensus Target Price from Analysts

Shares of MGM Resorts International (NYSE:MGM - Get Free Report) have earned a consensus rating of "Moderate Buy" from the twenty-one ratings firms that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $51.29.

Several research firms have recently issued reports on MGM. Canaccord Genuity Group reiterated a "buy" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Stifel Nicolaus raised their target price on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Leerink Partners cut shares of MGM Resorts International to a "market perform" rating in a report on Thursday, February 13th. Barclays restated an "equal weight" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Argus upgraded shares of MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a report on Friday, February 14th.

MGM Resorts International Price Performance

Shares of MGM Resorts International stock traded down $0.17 on Monday, hitting $32.52. The company had a trading volume of 4,724,400 shares, compared to its average volume of 4,179,003. The business has a 50-day simple moving average of $34.03 and a 200-day simple moving average of $36.14. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The company has a market cap of $9.29 billion, a PE ratio of 13.55, a PEG ratio of 0.98 and a beta of 2.18. MGM Resorts International has a 52 week low of $29.99 and a 52 week high of $48.25.

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MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. Research analysts expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Activity at MGM Resorts International

In other news, CFO Jonathan S. Halkyard bought 10,000 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the acquisition, the chief financial officer now directly owns 75,648 shares of the company's stock, valued at $2,433,596.16. The trade was a 15.23 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. This trade represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. 2.13% of the stock is owned by company insiders.

Institutional Trading of MGM Resorts International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Davis Selected Advisers increased its stake in MGM Resorts International by 4.6% in the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company's stock valued at $690,253,000 after acquiring an additional 882,417 shares during the period. Invesco Ltd. increased its stake in MGM Resorts International by 22.5% in the fourth quarter. Invesco Ltd. now owns 5,785,343 shares of the company's stock valued at $200,462,000 after acquiring an additional 1,063,707 shares during the period. Fisher Asset Management LLC boosted its position in MGM Resorts International by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company's stock valued at $177,777,000 after buying an additional 90,645 shares in the last quarter. Marshall Wace LLP boosted its position in MGM Resorts International by 50.9% in the fourth quarter. Marshall Wace LLP now owns 3,233,718 shares of the company's stock valued at $112,048,000 after buying an additional 1,090,533 shares in the last quarter. Finally, Goldentree Asset Management LP boosted its position in MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company's stock valued at $117,270,000 after buying an additional 1,390,599 shares in the last quarter. Institutional investors own 68.11% of the company's stock.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.